We're in a deep recession
So where would the pax come from in this environment? I doubt many of the people living off $750 a week are budgeting for air travel.
You mentioned VERY high frequency on the golden triangle (every 30 minutes?), coupled with the above I can't see them filling aircraft. I hope I'm wrong for the industries sake.
They may not even have metal post admin too achieve that. I'd imagine QF running A333's on the triangle (which we've seen the last few days) the freight alone on
these would probably cover their costs.